• Fresh High Of Php50.00 Possible on Aboitiz Power Corp. (AP)

    Fresh High Of Php50.00 Possible on Aboitiz Power Corp. (AP)

    In the January 15, 2014 issue of our Equity Advisor, we noted that Aboitiz Power Corporation (AP) may be bound for a bullish run and go for an initial target of Php40.00 following a breakout from an inverted head and shoulders (inverse Kilroy). Soon after, the stock indeed marched higher and even surpassed the said target, giving it a gain of more than 14.53% in a little over 6 weeks.

    As you can see from its chart, the stock may even be en route to a fresher high as it was able to penetrate its previous record of Php40.00 on a very high volume. If AP can stay above Php40.00 then it may actually set its eyes to a new target of Php50.00. A slip below Php40.00, though, may invalidate the recent breakout and send it back to at least Php38.00.

     

    AP write-up from the Trading Edge Equity Advisor:

    January 15, 2013

    stock market philippines aboitiz power corporation AP inverted head and shoulders 1.15.14Aboitiz Power Corporation (AP) may soon make a substantial move higher as it recently broke out from an inverted head and shoulders or inverse Kilroy pattern. Presently, the stock may be seeing some resistance at its former support at Php36.00 but if it can move above that then it will be able to swing back to its previous high of around Php40.00. Of course, this recent ‘break’ will be invalidated if AP falls below the pattern’s neckline again. If that happens then it may likely fall further to at least Php34.00.

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